AUD/NZD portrays a very bearish outlook on almost all timeframes. Monthly, Weekly, Daily, 4H and so on. Also checked the indexes, NZD looks very bullish as it rejected a key weekly trendline, AUD Index broke lows and is now retesting. Furthermore we have Interest Rate news tomorrow which consensus states will drop from 1.5% to 1.25%.
If AUD/NZD breaks above this 4...
Pretty simple analysis. We've been rejecting the same trendline since 2015, it broke in December 2018 and retested end of January 2019. Dropped 350 pips and is now retesting the trendline once again, IF and ONLY IF we get a good rejection does this mean that I will be entering a sell trade.
Looking at using 0.5% risk.
EUR/USD as we can see has hit a major top trendline, if we get a rejection we should be expecting downside. We can also see that it is currently hitting the bottom trendline, looking a bit to the left we can see that it had the same structure as before. A clear downtrend can be stopped due to the lower lows and lower highs. If the top trendline is broken then this...
EUR/JPY was in a 4 Hour symmetrical triangle. It has just broken out and it looks like it will be retesting the triangle structure. Be careful with this as it could be a fakeout. Wait for a buy setup before fully committing. Patience pays.
EUR/USD was consolidating for 2 months and it finally broke out to the upside. It also just retested a key weekly level (@1.14882) . Furthermore it is currently in an uptrend. Im expecting more upside movement to come out of this pair.
CAD/JPY has rejected the weekly Trendline and also a daily support level with a bullish Pinbar candle. (Indicated on chart). This leads us believe that buyers have taken control of the market. This is looking like a long term buy trade. Wait for a buy setup before entering and use small risk.
It looks like the trendline may not be breaking. It appears that we are seeing a rejection. However nothing is 100% for certain. Only time will tell, we have to be patient until it gives a direction.
Use your patience
EUR/JPY has just broken the weekly trendline it has been following since 2014. I am waiting for a DAILY close BELOW the TRENDLINE , otherwise the trade idea will be voided. I will wait patiently for a retest or another form of sell setup.
GBP/NZD Daily trendline broken, it has been following this trendline since November of 2016. The trendline was broken last month (November) and we are just now seeing a retest. I will be looking for a sell setup soon. Expecting a large downside movement. Keep an eye on Fundamentals due to this Brexit fiasco.
EUR/CHF just broke the weekly trendline it has followed since the beginning of 2015. I will be waiting for a retest of this trendline before I enter a sell trade. Make sure you also check fundamentals before entering any trade.
Since April of 2015 AUD/NZD has been rejecting the same daily trendline, as shown in the chart. However, we have no experienced a break in the trendline and a retest. I am looking for a suitable sell setup. Make sure you look at technicals and fundamentals.
AUD/NZD is currently hitting a very important trendline. I am waiting to see which of 2 things happen.
1.) A trendline rejection and we enter a buy trade.
2.) We break the trendline, have a trendline retest and enter a sell trade.
Patience is key.
Trade safe traders.
USD/CAD recently rejected the top trendline, but it is currently breaking the bottom trendline on the 4 hour timeframe. Once the candle has closed below the trendline I will be looking for a sell setup.
AUD/NZD broke the Daily trendline, it is now breaking the hourly trendline. I will be expecting more downside to come from this pair, therefore I am looking for a good sell setup.
Trade safe traders